don't give up! We will help you find a solution! CALL OR TEXT (770) 828-7339
don't give up! We will help you find a solution! CALL OR TEXT (770) 828-7339
After your loan has been in default for at least 90 days, the mortgage is referred to a Florida attorney for foreclosure. The attorney files the foreclosure complaint, summons, and files a lis pendens in the real estate records. The sheriff or another process server will serve the summons, complaint, and lis pendens. This is your first notice that the foreclosure has officially started. It is important that you don't delay getting in touch with us after this has happened. You only have 20 days to file an answer to the complaint.
Once you have us on your side, we file the answer and defenses. Defenses can be either factual or legal. At this time, the discovery process begins. During discovery, you have the ability to request any information from the mortgage company that may help your case. Through discovery, you can find out if the loan holder who has brought the foreclosure action against you is the correct entity, whether your payments have been applied correctly, or whether some other important information prevents the loan holder from foreclosing on you.
During this time, we also negotiate foreclosure alternatives on your behalf. These negotiated alternatives include loan modification, deed-in-lieu of foreclosure, short sale - if your loan amount is higher than the property value, and several other possibilities. As discovery progresses, we can also explore other alternatives such as bankruptcy or a sale that puts the equity of your home into your pocket.
Once discovery is complete, motions for summary judgment are filed. Sometimes cases end here, if the bank has sufficient evidence to show that you are delinquent in payments. If the evidence is insufficient for summary judgment, it goes to trial, where only one party may prevail. If the judgment is issued in favor of the bank, the property is auctioned off to the highest bidder. The bank may also seek a deficiency following the foreclosure which would require you to pay even more money. This is why having a skilled attorney on your side even after the foreclosure auction is important. You need protection at all steps of the process.
From beginning to end the entire foreclosure could take 18 to 24 months or longer.
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